London-based legal tech company H4 has raised £21m from a consortium of high profile brands including J.P. Morgan, Goldman Sachs, Barclays and Linklaters.

The firm, which has approximately 120 employees, offers a digital platform for the creation and analysis of legal documents. It has been used in the US and European high yield bond markets for transactions involving four of the world’s leading banks and 14 of the world’s leading law firms.

The investment, completed earlier this year, provides the institutional investors collectively with a minority stake in H4. It will be used to fuel further growth of the platform as it expands into new use-cases.

Joe Seifert, CEO & Co-founder of H4, said: “The H4 team are solving the pain of using decades old technology for the contracts that lie at the heart of the financial and legal industries.

“We just can’t accept that such important industries are still reliant on outdated tools when technology can unlock so much more, particularly during this time of remote work.”

H4 was the first company to join the J.P. Morgan’s In-Residence Program.

Michael Elanjian, Head of Digital Innovation at J.P. Morgan, said the firms have a strong relationship.

“We’re excited to see the momentum in digitizing documents and capturing data at the point of creation – this is a corner of the industry that is ripe for change,” he said.

Dan Packham, a Director at Barclays Ventures, discussed the usability of the platform: “H4 not only streamlines existing process but adds a valuable resource for curating documents and is transforming the way we work. We are pleased to be working more closely with H4 as they enter a new and exciting growth period.”